European Union investigating Ikea tax benefits

Javier Moore |Monday, December 18, 2017

Europe investigates Ikea tax evasion via Netherlands

Brussels, Dec 18 The EU today opened an in-depth investigation into Swedish furniture giant Ikea's tax deals in the Netherlands, in the latest salvo by Brussels against the tax affairs of multinationals.

The Commission has recently ordered firms including various member states to collect billons of euros' worth of back taxes from Apple, Starbucks, Amazon and Fiat.

Information is limited as Ikea is not a public company and, like most multinational groups, it is formed of a large number of subsidiary companies in numerous jurisdictions. "The Netherlands fully supports the Commission's work".

Separately, Belgium was required to recover about € 700m in tax from about 35 companies that benefited from a generous scheme.

This marks the latest crackdown on unfair tax deals between multinationals and European Union countries.

The EU is also conducting investigations into McDonald's, the fast-food chain; Engie, the French utility; and a United Kingdom tax scheme for foreign-controlled corporations.

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